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What is Bitcoin?

Bitcoin is a form of digital currency created and used in electronic form. Bitcoins are not printed like dollars or euros; they are produced by many people at computers around the world using the software, critical computing tasks. This is the first example of a growing category of money known as digital currency.

Bitcoin can be used for electronic purchasing of goods. In this sense it is no different from the usual us dollars, euros and yen, which are also used for e-Commerce.
A very important characteristic of bitcoin that distinguish it from conventional money, is decentralization. No existing institution has no control over the Bitcoin network.

The exchange rate of Bitcoin against other currencies is constantly changing depending on supply and demand. Now the course BTC/USD like this:

Bitcoin in 2016

2015 was quite a good year for bitcoin given the huge amount of investment that it has attracted positive attention it has received from leading financial institutions such as banks and clearing houses, etc. basic technology, i.e. in the blockchain, has gained enormous respect from leading technology and financial companies. But this is not the ending; 2016 could be another eventful year for the cryptocurrency. read more

Now You can rent Bitcoin farm in the South Pacific ocean

South Pacific Plantation Management Limited, the company located on the island of Efate, Vanuatu, recently started accepting Bitcoin for 1 acre of land located on the island of Malekula, South Pacific island in the Republic of Vanuatu. They work together with CoinJar, an Australian Bitcoin company, for the implementation of this project read more

Central Bank of Kazakhstan Loses Consumer Trust

Similar to most struggling countries around the globe "right" now, the economy in Kazakhstan is linked to the US Dollar. However, with the recent financial woes hitting stock markets all over the world, combined with a declining oil price, the exchange value of a local currency against the US Dollar is fluctuating by quite a margin. Unfortunately for Kazakhstan, the value of their Kazakhstani Tenge has been losing a lot of ground over the past year. read more

Bitcoin Uncertainty in Venezuela is Beneficial to SurBitcoin

All of these actions are leading to a lot of questions being raised by the Bitcoin community in Venezuela, and some people are worried about whether or not they should get out of digital currency.
After all, nobody wants to be arrested for their involvement in digital currency, even though such actions by governments are frowned upon by Bitcoin enthusiasts and industry experts all over the world.read more

1 BTC = ~1048.69 USD
1 USD = ~95357 Satoshis

What is a Satoshi?

Satoshi is the smaller part of bitcoin. The device is called a "Satoshi" in collective homage to the founder of Bitcoin Satoshi Nakamoto.

1 Satoshi = 0.00000001 Bitcoin
10 Satoshi = 0.0000001 Bitcoin
100 Satoshi = 0.000001 Bitcoin
1000 Satoshi = 0.00001 Bitcoin
10000 Satoshi = 0.0001 Bitcoin
100000 Satoshi = 0.001 Bitcoin
1000000 Satoshi = 0.01 Bitcoin
10000000 Satoshi = 0.1 Bitcoin
100000000 Satoshi = 1 Bitcoin

Russian Citizens Force OOOPay To Accept Bitcoin

Keeping in mind how OOOPay is one of the primary online payment platforms in Russia, this new is rather significant regarding the future of digital currency in the country. Getting the unexpected support from such a large payment processor is another notch in the belt of Bitcoin and its community, who see more legitimacy added to the popular digital currency.

What is even more significant is how so many OOOPay customers asked the company to integrate Bitcoin payments sooner rather than later. Russia does not like Bitcoin, and government officials are considering to make Bitcoin activities punishable by law, whereas convicted users can face a jail sentence of up to seven years.

The resolution of the debate about the size of the blocks.

The digital currency space expects to see a resolution of the debate about the block size in the coming year. It is expected that experts will come together to discuss the block size to solve the problems caused by the increase in the number of transactions with bitcoin.

It will have a positive and fundamental impact on the ecosystem and, perhaps, further supports the cryptocurrency.

While the situation of Bitcoin in Russia remains very questionable, to say the least, there is a lot of positive focus on what blockchain technology can bring to the table. Russian officials want to be a part of the Fintech solution while also ensuring there is no way for people to launder money or use it for terrorist funding.

Bitcoin is a direct opposite of that in the eyes of most consumers and governments, though. When sending a Bitcoin transaction, there is no personal information included from either sender or recipient. However, these same people are mistaken in thinking that Bitcoin is anonymous, as it is possible to track transactions on the blockchain in real-time.

Source: Newsbtc.com